Daily Tech view of Bank Nifty Spot for 04.04.2022

Daily Tech view of Bank Nifty Spot for 04.04.2022

Last Friday Bank Nifty surged 775 points settled at 37148 and formed a bullish engulfing candle on the daily charts after a day of consolidation.

Day’s low 36242 supported by 5 DMA i.e. 36066 & more Strength have resumed after breaching & staying above 200 & 100 DMA 36666/36800 & then smoothly moved upto 37210 < day’s high >. Closed at almost day’s high.

On the upside above 37210 or 37260 –37400 & 37600. Major Resistances 37777 & 38000.

On the downside below 37000 –36800 & 36666. Major Supports only below that 36400 & 36242.

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Source : Eureka

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